1) The National Sovereign Wealth Fund, established by GEJ and opposed by APC Governors like Fashola is now the manager of the Presidential Infrastructure Development Fund the mechanism for funding priority projects like 2nd Niger Bridge
2. The PIDF,approved by the National Economic Council with PDP Govs supporting, is to be funded with $650M drawn from dividends of NLNG and owned by the federation with about FG 51%, states, LGA and FCT 49%.This means the country is funding the bridge as a PPP financed by 3 tiers
3, The PDP model of using the NSWF to attract global funding was destroyed by the Government demarketing of Nigeria and prevarications in 2015 coupled with senseless foreign exchange regime.
In 2018 we are back to PPP via Federation funding through NSWF.
In 2018 we are back to PPP via Federation funding through NSWF.
4. The phases 1-3 of the early works done on the 2nd Niger Bridge was funded by the counterpart contributions of the GEJ government given to the NSWF. The phase 4 awarded by this administration through budget is ongoing. (APC trolls now know the difference)
The main contractor for 2NB awarded last August will be funded through the PIDF. Meaning the country is owing the the FG, States, LGAs and FCT for the priority projects and will repay with interest later.
All this is possible through the mechanism of NSWF established by GEJ
All this is possible through the mechanism of NSWF established by GEJ
